Hi all,
What is the best way to 'hand the keys back' to the bank? Sounds like a silly question but real!
Is it ok to meet the bank and tell them you categorically cant pay the mortgage, you've lost your job and have no hope of getting work and plan to emigrate in the next few months (and possibily declaring bankrupt in time).
So you want them to start the processs of repossession asap before you have to leave the country so that you are not being chased all over the world for signitures/court appearances etc etc.
Is that the same as 'handing the keys back' or do you physically have to leave the house to start the repossession process? How will the bank react to this? Will they start the process asap? Does it take a while for the process to begin in earnest? Or is all that too much info to give them in the first place triggering them to move against you? What is the best approach?
Also if it's a joint debt, do they have to get the permission off the other name on the mortgage (who you are seperated from), even if they have never contributed to the mortgage and are not earning or likely to earn anytime soon?
many thanks
What is the best way to 'hand the keys back' to the bank? Sounds like a silly question but real!
Is it ok to meet the bank and tell them you categorically cant pay the mortgage, you've lost your job and have no hope of getting work and plan to emigrate in the next few months (and possibily declaring bankrupt in time).
So you want them to start the processs of repossession asap before you have to leave the country so that you are not being chased all over the world for signitures/court appearances etc etc.
Is that the same as 'handing the keys back' or do you physically have to leave the house to start the repossession process? How will the bank react to this? Will they start the process asap? Does it take a while for the process to begin in earnest? Or is all that too much info to give them in the first place triggering them to move against you? What is the best approach?
Also if it's a joint debt, do they have to get the permission off the other name on the mortgage (who you are seperated from), even if they have never contributed to the mortgage and are not earning or likely to earn anytime soon?
many thanks